Jaitley allocates Rs 500 cr to set up 5 new IIMs and IITs

Jaitley allocates Rs 500 cr to set up 5 new IIMs and IITs

Finance Minister Arun Jaitley allocated Rs 500 crore (Rs 5 billion) to set up up five new IIMs (Indian Institute of Management Studies) and five new IITs (Indian Institute of Technology) in the Union Budget 2014-15.

The premier engineering IIT colleges will be added to Jammu, Chhattisgarh, Goa, Andhra Pradesh and Kerala.

Top-ranked business schools or IIMs will be set up in Himachal Pradesh, Punjab, Bihar, Odisha and Maharashtra.